Israel’s Egged Group has acquired a 51 percent stake in TOKS

Egged Group, Israel’s largest public transportation company, has completed the acquisition of a 51% stake in the bus operator “Long-Distance Passenger Transport Company” (TOKS). The shares were acquired by EBS, a subsidiary of Egged Group operating in the Netherlands.

Following the transaction, the remaining 49% of shares are held by the Lithuanian investment company C Company Mobility Investments, whose beneficiaries are investor Nemunas Dagilis and companies belonging to the investment management group Žabolis ir partneriai. The Competition Council granted approval for the transaction at the end of February this year.

“While some see uncertainty and risks, we see opportunities and the determination and competence of our Lithuanian partners to jointly create one of the most advanced and strongest public transport operators in Europe. This step strengthens our position and demonstrates the group’s financial, management, and operational capabilities,” noted Amiras Levi, Chairman of the Board of Egged Group.

“While some see uncertainty and risks, we see opportunities and the determination and expertise of our Lithuanian partners to jointly build one of the most advanced and strongest public transport operators in Europe. This step strengthens our position and demonstrates the group’s financial, management, and operational capabilities,” noted Amiras Levi, Chairman of the Board of Egged Group.

“In my view, this is the most significant deal in Lithuanian history involving the attraction of an international strategic investor to the bus passenger transport sector, and its importance is further underscored by the complex geopolitical situation. Egged’s consistency and courage to operate under conditions of uncertainty demonstrate its confidence in the future of TOKS and the entire region. “The Israeli company’s diverse experience and expertise allow us to take on ambitious projects with greater confidence and consistently pursue the goal of making TOKS the largest public transport company in the Baltic states and actively expanding into the Nordic countries,” said TOKS CEO Valentinas Belousovas.

Upon signing the agreement, Egged announced that it was thereby strengthening its position as one of the largest and most advanced public transport operators in Europe. The Israeli company also owns the Dutch company EBS and the Polish company Mobilis. Egged’s annual revenue in Europe currently stands at 1.3 billion shekels (nearly 350 million euros).

“While some see uncertainty and risks, we see opportunities and our Lithuanian partners’
Managed by the Israeli investment fund Keystone Infrastructure Investment Fund, the Egged Group is Israel’s largest public transportation company, operating 4,300 buses and transporting 320 million passengers annually. The group’s companies employ more than 11,000 people, and the group’s annual revenue amounts to 5.6 billion shekels (nearly 1.5 billion euros). The shares of the Keystone Infrastructure Investment Fund, which manages the Egged Group, are traded on the Tel Aviv Stock Exchange (TASE) (ticker symbol: KSTN).